Bloomin' Brands, Inc. (NASDAQ:BLMN - Get Free Report) declared a quarterly dividend on Wednesday, February 12th, Wall Street Journal reports. Stockholders of record on Tuesday, March 11th will be given a dividend of 0.15 per share by the restaurant operator on Wednesday, March 26th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 7.11%. The ex-dividend date is Tuesday, March 11th.
Bloomin' Brands has a payout ratio of 40.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Bloomin' Brands to earn $1.76 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 34.1%.
Bloomin' Brands Stock Down 10.0 %
Shares of BLMN traded down $0.94 on Monday, reaching $8.44. The stock had a trading volume of 4,172,833 shares, compared to its average volume of 1,668,260. Bloomin' Brands has a 12-month low of $8.38 and a 12-month high of $30.13. The company has a debt-to-equity ratio of 4.46, a quick ratio of 0.22 and a current ratio of 0.31. The firm has a market capitalization of $716.82 million, a price-to-earnings ratio of -76.72 and a beta of 1.97. The company has a 50-day simple moving average of $11.85 and a 200-day simple moving average of $14.20.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on BLMN. Raymond James lowered Bloomin' Brands from an "outperform" rating to a "market perform" rating in a research report on Monday, November 11th. The Goldman Sachs Group reduced their price objective on Bloomin' Brands from $13.00 to $10.00 and set a "sell" rating for the company in a research report on Thursday. UBS Group reduced their price objective on Bloomin' Brands from $16.00 to $13.00 and set a "neutral" rating for the company in a research report on Tuesday, January 7th. StockNews.com raised Bloomin' Brands from a "sell" rating to a "hold" rating in a research report on Wednesday, February 26th. Finally, Piper Sandler reduced their price objective on Bloomin' Brands from $20.00 to $16.00 and set a "neutral" rating for the company in a research report on Monday, November 11th. Two analysts have rated the stock with a sell rating and ten have issued a hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $15.00.
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About Bloomin' Brands
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Bloomin' Brands, Inc engages in the acquisition, operation, design, and development of restaurant concepts. It operates through the U.S. and International geographical segments. The U.S. segment operates in the USA and Puerto Rico. The International segment operates in Brazil, South Korea, Hong Kong, and China.
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